Posted on 03/03/2009 10:45:40 PM PST by Plutarch
To all those scared to death about the tumbling stock market, President Obama played financial adviser yesterday, offering the age-old counsel: Buy low and sell high.
The president, in a departure from usual form, directly addressed the swoon in the stock market. The benchmark Dow Jones industrial fell nearly 300 points Monday to the lowest level in 12 years - and more than 50 percent off its all-time high in October 2007 - and finished down about 37 more points yesterday.
Obama waved off the ups and downs in the market, comparing them to tracking polls that his campaign often ignored during the presidential race.
"What I'm looking at is not the day-to-day gyrations of the stock market but the long-term ability for the United States and the entire world economy to regain its footing," he said during an Oval Office mini press conference with British Prime Minister Gordon Brown.
"If you spend all your time worrying" about the market, he added, "then you're probably going to get the long-term strategy wrong."
The president acknowledged that "the banking system has been dealt a heavy blow, and so there are a lot of losses that are working their way through the system. And it's not surprising that the market is hurting as a consequence."
But looking on the bright side, Obama said, "On the other hand, what you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."
(Excerpt) Read more at boston.com ...
You heard it here first...
It has to be a large majority against him now. ACORN has a free run at our elections in 2010 with great gobs of tax money to use to fix them. The DoJ will not interfere and may provide legal defense for them.
“profit and earning ratios” - this is redundant (profits=earnings) and again illustrates the lack of intelligence of so-called “journalists”.
Keep those conga lines going there obie.
Absolutely.
The ineptitude of this clown is breathtaking! One minute he’s bashing banks and investors, the next he’s pushing stocks. Clueless is no way to run a country.
Yeah, killing capitalism is taking longer than Barry thought it would.
It is if you wanna drive that country into the ground.
“As market staggers, Obama keeps focus on long term expansion of the role of government in citizens daily lives”
Yes, and according to Zero, we shouldnt worry about the “day to day gyrations” of the market.
He demonstrated his ignorance with yesterday’s statements, but I sense that his comments were directed to the ignorant, foolish sheeple who will follow their pied piper no matter what he says.
Remember, most of the people who dont pay any taxes at all voted for him.
Also, about half of the people in the country are not invested in the stock market, so they will go along with whatever he says about it. That is at whom a statement like that is directed. And they couldnt give a crap where the DJ is at.
I also note that his retarted comments about the market came on the day following a Mark Levin show when Levin lambasted The Kenyan for not making any speeches or making any statements to the country about the market. I do not think the timing was a coincidence.
You know that Odumbo and his shmucks listen to theses guys’ shows. He has already named Rush and Hannity as foes- Levin never gets mentioned by name, which is curious, but he knows he has a target on his back, especially with the Unfairness Doctrine attempts coming.
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